$17k Breached: Bitcoin Value Now Down 15% from All-Time High

Bitcoin’s price has fallen 15 percent from its recent all-time high, dropping by much more than $1,800 given that the start off of the day.

Information from CoinDesk’s Bitcoin Price tag Index (BPI) shows the cost falling to as low as $16,961.79 at press time, a fall of more than 10 % on the day. The BPI hit an all-time high of&nbsp$17,801.94 on Dec. 15.

Right after opening at $18,960.52 and briefly climbing above the $19,000 level, the cryptocurrency’s value fell below $18,000 1st around 11:00 UTC and later at numerous points during the day. The newest move beneath that figure began 19:24 UTC, BPI data shows.

The trading activity brings the price back to the variety it saw on Saturday, a day ahead of the bitcoin futures launch by CME Group. Certainly, it also continues a trend reported earlier right now, in the course of which the cost of bitcoin had sunk beneath $18,000 whilst alternative cryptocurrencies like ether and REP posted significant gains.

As it stands, the collective market capitalization of the cryptocurrency ecosystem remains above $600 billion, possessing moved across that threshold for the initial time yesterday.

Disclosure:&nbspCME Group has an ownership stake in Digital Currency Group, CoinDesk’s parent business.

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Disclaimer: This write-up should not be taken as, and is not intended to provide, investment suggestions. Please conduct your personal thorough investigation ahead of investing in any cryptocurrency.